REGISTERED NUMBER: 13777946 (England and Wales)

MENZ PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L Brooks

Ms C S Brooks

REGISTERED OFFICE:

2nd Floor, One Hobbs House

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

REGISTERED NUMBER:

13777946 (England and Wales)

ACCOUNTANTS:

Albury Associates Limited

2nd Floor, One Hobbs House,

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

FIXED ASSETS

Investment property

4

255,000

256,000

CURRENT ASSETS

Cash at bank

1,484

4,801

CREDITORS

Amounts falling due within one year

5

104,555

96,668

NET CURRENT LIABILITIES

(103,071

)

(91,867

)

TOTAL ASSETS LESS CURRENT LIABILITIES

151,929

164,133

CREDITORS

Amounts falling due after more than one year

6

(169,599

)

(169,599

)

PROVISIONS FOR LIABILITIES

(4,527

)

(4,717

)

NET LIABILITIES

(22,197

)

(10,183

)

CAPITAL AND RESERVES

Called up share capital

8

600

600

Revaluation reserve

9

19,300

20,110

Retained earnings

9

(42,097

)

(30,893

)

SHAREHOLDERS' FUNDS

(22,197

)

(10,183

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2025 and were signed on its behalf by:

L Brooks - Director

1.	STATUTORY INFORMATION

Menz Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the properties are occupied.

Investment property

In accordance with the Companies Act, fixed assets are ordinarily subject to systematic annual depreciation. However, the directors are of the opinion that the policy of not providing depreciation on investment properties is necessary to ensure that the financial statements present a true and fair view. The carrying values of the properties are determined primarily by their current market value and the changes therein, rather than by applying a formulaic depreciation charge. Depreciation is only one of many elements inherent in the valuation process, and any notional amount cannot be separately identified or reliably quantified.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cash at bank and in hand

Cash at bank and in hand is represented by cash in hand and deposits held with financial institutions repayable without penalty or a notice of not less than 24 hour's.

Going concern

The financial statements have been prepared on a going concern basis. The directors have confirmed that financial support will continue to be made available to enable the company to meet its day-to-day obligations as they fall due for the foreseeable future. Accordingly, the directors consider that the going concern basis of preparation is appropriate. The financial statements do not include any adjustments that might arise if such support were withdrawn.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

256,000

Impairments

(1,000

)

At 31 December 2024

255,000

NET BOOK VALUE

At 31 December 2024

255,000

At 31 December 2023

256,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2022

231,173

Valuation in 2023

24,827

Valuation in 2024

(1,000

)

255,000

Freehold properties were revalued at the year-end date to its fair value of £255,000 by the Directors, based on their online research. If the freehold properties were included in the balance sheet on an historical cost basis, then the carrying amount would be £231,173 (2023 - £231,173). The directors are of the opinion that, given the static nature of the property market in recent times, the difference between the fair value and the estimated fair value was not significant, therefore they have adopted the fair value based on their research.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,027

1,615

Other creditors

103,528

95,053

104,555

96,668

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

169,599

169,599

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more than 5 years

169,599

169,599

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

169,599

169,599

The Bank loans are secured by way of a fixed charge over the company's freehold properties.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

A Ordinary

£1

100

100

100

B Ordinary

£1

100

100

100

C Ordinary

£1

100

100

100

D Ordinary

£1

100

100

100

E Ordinary

£1

100

100

100

F Ordinary

£1

100

100

600

600

All shares rank pari-passu in all respects.

9.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 January 2024

(30,893

)

20,110

(10,783

)

Deficit for the year

(11,204

)

(11,204

)

Revaluation during the year

-

(810

)

(810

)

At 31 December 2024

(42,097

)

19,300

(22,797

)

10.	RELATED PARTY DISCLOSURES

At the year-end date, included within creditors, amount falling due within one year is £100,408 (2023: £93,613) owed to the directors. This amount is unsecured, interest free and repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are C Brooks and L Brooks.